IB extra zeros

I have two questions.

First, will stocks selling below $2 be displayed with 4 places after the decimal tomorrow?

Second, I believe relative orders with 0 aux. price are incrementing in .0001 increments. As a result, the adjusted orders are being rejected by the exchanges because of the sub penny rule. If I am correct, will this be corrected tomorrow?

Thank you,

MSS
 
Quote from mss:

I have two questions.

First, will stocks selling below $2 be displayed with 4 places after the decimal tomorrow?

Second, I believe relative orders with 0 aux. price are incrementing in .0001 increments. As a result, the adjusted orders are being rejected by the exchanges because of the sub penny rule. If I am correct, will this be corrected tomorrow?

Thank you,

MSS
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First: I don't know, but it is more likely that initially we will just undo what we did for today.

Second: you are not correct.
 
just tested something. ISLD price is being sent with 4 dec , but if you MODIFY it by .0001 I dont see the modified price displaying on the ISLD internal book. The old price remains.

A cancel is reflected promptly

Used LOUD as the test. looks like very small changes are filtered.
 
Quote from IBsoft:

ISLAND indeed went 4 decimals on all the stocks effective today. As a result, IB now shows 4 decimals as well, even though it makes no sense for stocks priced higher than 1 USD.

We will undo the change for tomorrow. Sorry for the inconvenience.
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Quote from IBj:

ISLAND refined their rule to a more sensible one. It will be 2 decimals for stocks over 2 USD for wednesday 2/23/2006.
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What are you guys *talking* about? Island has distributed 4 decimal places in its data feeds for a long long time. There has been no change in the feed in YEARS. They now accept and display quotes to 4 decimal places in under 1 dollar stocks, but the data feed has not changed. They've always had the trailing zeroes.
http://www.inetats.com/support/devspecs/itch/itch0200.asp
 
4 decimal places were started Dec 13 as I thanked them on the IB board after requesting it on October 17.

The problem was trading the low priced pennies as before we only had 3 decimal places and that sometimes forced you into 100% spreads - but since mid December we have had 4 decimals.

Obviously it is not important on stocks that do not trade in such increments.
 
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